Australian Dollar Climbs On Recovery Hopes
December 27 2021 - 8:51PM
RTTF2
The Australian dollar firmed against its major counterparts in
the Asian session on Tuesday, as Asian shares are mostly higher on
optimism that the Omicron coronavirus variant is unlikely to derail
global economic growth.
The governments in France and Britain resisted imposing
lockdowns despite high infection rates.
U.K. Health Secretary Sajid Javid said that the government will
not impose additional restrictions in England before the New
year.
France announced restrictions on large gatherings and ordered
citizens to work from home for at least three days a week from
January 3.
In addition, the People's Bank of China injected 200 billion
yuan into the financial system via a seven-day reverse repurchase
agreements to ease liquidity constraints.
The aussie advanced to a 5-day high of 0.7247 against the
greenback and a 4-day high of 1.5629 against the euro, from its
early lows of 0.7229 and 1.5662, respectively. The next possible
resistance for the aussie is seen around 0.74 against the greenback
and 1.53 against the euro.
The aussie jumped to near a 5-week high of 83.27 against the
yen, from a low of 83.02 set at 7 pm ET. On the upside, 85.00 is
seen as the next resistance level for the aussie.
The Australian currency bounced off to 1.0630 against the kiwi
and 0.9265 against the loonie, following its previous low of 1.0606
and a 6-day low of 0.9239, respectively. If the aussie rises
further, 1.09 and 0.94 are likely seen as its next resistance
levels against the kiwi and the loonie, respectively.
Looking ahead, U.S. FHFA's house price index and
S&P/Case-Shiller home price index for October will be out in
the New York session.
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